After its three-hour hearing via Zoom on September 22, 2022 at which Mr. Raptis was present, responded to questions posed by ABAA counsel and Board members, and had a full opportunity to present his position regarding the complaint allegations, the Board of Governors of the ABAA thereafter concluded that Mr. Raptis violated the Code of Ethics. Pursuant to the Association’s by‐law (Article 5, Section 2), the Board voted to impose a fine and suspend Matthew Raptis as a member of the Association for the period of one year. The Board determined that the evidence supported the conclusion that Mr. Raptis violated the Code of Ethics, in particular Section 3 “An Association member shall be responsible for the accurate description of all material offered for sale. All significant defects, restorations, and sophistications should be clearly noted and made known to those to whom the material is offered or sold. Unless both parties agree otherwise, a full cash refund shall be made available to the purchaser of any misrepresented material.”
The one-year suspension shall commence immediately and be in effect until September 28, 2023. Mr. Raptis must desist from availing himself of any activities or benefits associated with ABAA and ILAB membership. He must also refrain from any effort to access or post, directly or indirectly, any communication, comment or information to or from the Association’s listservs and from continuing to represent himself as a member of the Association and using its logo or other intellectual property.